Demand Volatility Tends to Be Higher for Services Than for Goods,not

question 35

True/False

Demand volatility tends to be higher for services than for goods,not only in timing of demand,but also in the amount of time required to service individual customers.

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Definitions:

Continuity Correction

An adjustment made to a discrete probability distribution to better approximate a continuous distribution, often used in binomial and normal distribution approximation.

Discrete Binomial Distribution

A probability distribution that models the number of successes in a fixed number of independent yes/no experiments, each with the same probability of success.

Continuous Normal Distribution

A type of probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean of the set.